The Goleta Water District plans to invest $3.9 million in capital improvement projects for the next fiscal year and prioritize projects that reduce the risk of costly future repairs.
Its Board of Directors has approved a $32.5 million budget for the 2013-14 year and expects to spend $11.3 million of that to secure enough water to meet customer demand, according to Assistant General Manager David Matson. He said in a statement that the district will also set aside $403,000 for reserves to prepare for building resources for emergency response.
“The district has been actively working to increase vital operating and capital reserves which will reduce ratepayer risk and improve emergency response flexibility in the future,” board president Bill Rosen said.
The board also has approved rate increases for water customers, which are effective July 1.
The district, which serves 87,000 customers in the Goleta Valley, will celebrate its 70th anniversary in 2014.